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-called fiscal cliff, our economy is coming back, but it's still very tenuous. this is the last thing that we want to see happen, and both sides need to get together and work this out. >> mayor parker, have you taken a stand on where you think the negotiations should go at this point? whether it be on the union side or the maritime side? >> i'm a big believer of doing negotiating at the bargaining contain table. i have to do a lot of negotiations with my unions. they just need to get back together and work this out. the crux of the matter is on royalty payments that were put in decades ago to soften the blow of moving to automated containerized ar ccargo. it's certainly time to move forward to a new agreement. you can't just cling to the past forever, but both sides are going to have to give and move this forward. this is bad for the u.s. economy. and it will have ripple effects around the world. >> mayor parker, thank you for your time. >> we're down 83 on the dow. let's get a market flash back at hq. brian? >> simon, some pending home sales came in high. in fact, the highest level in two an
troubles for the u.s. economy if a deal to avert the fiscal cliff cannot be reached. jpmorgan's chief u.s. economist will join us live a little later on to explain the biggest risks in his view now that investors face. we're back in two. >>> if lawmakers fail to create a plan to avoid the fiscal cliff by january 1st, federal work study will be cut by over $76 million. and over 51,000 fewer students would receive aid. [ male announcer ] this is joe woods' first day of work. and his new boss told him two things -- cook what you love, and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef before opening a restaurant specializing in fish and game from the great northwest. he'll start investing early, he'll find some good people to help guide him, and he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade. i'd like to be optimistic. but it looks like they're going to blow. >> the real linchpin is whether john boehner can bring his troops along. that's a real tough one
of those worries about the fiscal cliff and maybe slower growth in trust economy, the stock market has had a great year. too bad you missed out. the smart money has been in the market. the rest of us have been worried about the fiscal cliff. >> number eight, facebook's ipo, hundreds of millions of people like facebook, but investors did not on its first day as a public company. trading glitches at the nasdaq and questions about the company's ability to make money on mobile users, pummeled the stock, which is on its way back to the ipo price. >>> number seven, mother myer. the new ceo of yahoo! who announced she was just going to take a two-week maternity leave. >> number six, mother nature, an intense drought in the midwest that scorched the corn and soy crop sending prices sky high. >> the ocean is just beyond. >> and who can forget superstorm sandy? millions of neighbors, their houses swept away without power, damages, and raising questions about infrastructure and whether we should be spending some money to fix it. >>> number five, china, is china slowing or leading the world? we do kno
." thanks for that. coming up next, the u.s. economy is on the verge of taking off but this fiscal cliff mess could get in the way. how much? what can we expect in 2013 with or without a deal? aww man. [ male announcer ] returns are easy with free pickup from the u.s. postal service. we'll even drop off boxes if you need them. visit usps.com pay, print, and have it picked up for free. any time of year. ♪ nice sweater. thank you. ♪ [ buzzing ] bye dad. drive safe. k. love you. [ chirping, buzzing continues ] [ horn honks ] [ buzzing continues ] [ male announcer ] the sprint drive first app. blocks and replies to texts while you drive. we can live without the &. visit sprint.com/drive. it's lots of things. all waking up. ♪ becoming part of the global phenomenon we call the internet of everything. ♪ trees will talk to networks will talk to scientists about climate change. cars will talk to road sensors will talk to stoplights about traffic efficiency. the ambulance will talk to patient records will talk to doctors about saving lives. it's going to be amazing. and exciting. and maybe
cliff talks heading into the 11th hour. >> u.s. economy is at stake here. >> you cannot pass a bill with just republicans. on a broad thing like this, you need both. >> but will anyone rise above and get it done? a debate from both sides of the aisle. plus guest host jason trennert on the impact for the markets. >> the final details on retail. the winners and losers as last-minute shoppers make one final rush to get the latest deals. >> i got it. i got it. >> the second hour of "squawk box" starts right now. ♪ chestnuts roasting on an open fire. jack frast nipping at your nose. yuletide carols -- >> good morning. welcome to "squawk box" on cnbc. >> love that sweater. that's unbelievable. we've got to fade in and out between the fire and that sweater. >> that's joe kernen, i'm andrew ross sorkin. becky quick is probably happily off at this point. in studios with his,000s on the market and the fiscal cliff this morning, jason trennert. >> that tie. >> he's got the red tie. >> santa tie. >> take a look at the futures, see how this half day of trading is setting up. looks like the dow
following president obama's announcement that he would cut his vacation short to deal with fiscal cliff negotiations. hoping that the real estate market would bolster the economy in 2013. we are learning that holiday sales this year were the weakest since 2008. they had a grim outlook for a fiscal cliff deal and the impact of the tragedy in newtown. on the radar this morning, chilling details in the christmas eve firefighter ambush. we could find out soon who will be saying aloha to the senate and a broken record in the house of representatives. new details out of webster, new york. william spangler set a car and house on fire and ambushed firefighters, opening fire on them as they arrive on the scene. police found a note he left behind saying he wanted to burn down the neighborhood and do what i like doing best, killing people. a convicted felon who spent 17 years in prison for killing his grandmother with a hammer was armed with three firearms including a bushmaster, the same gun used in the school massacre. he may have killed his sister and the home had human remains believed to be h
bargain. so i don't really buy the aurm that if you smooth out the fiscal cliff, then you go on and do other things. >> with the speed bump, if you're going too slow, which the economy is, if it's a big one, you go up and you might want make it over. and then if you're going too fast, you go up in the air, take out your transmission. >> what happens if you have a low car? >> it's bad. you hurt your undercarriage. but spain and the undercarriage is not something any of us need. but i think that howard dean, we didn't have time to go back and get howard and stuff. but howard said the best deal the democrats are going to get is to go over the fiscal cliff. taxes go up, then you go the republicans in position where they're getting the lower taxes. then patti murray. >> i just hope that people are paying attention that what we are seeing is basically the best world for politicians, they put off the and then everybody is going to pretend, oh, it's something happened. and nobody in the meantime is representing the interest of the american people. you know, we've got both parties in a position
the uncertainty the fiscal cliff has wrought in the economy. here's an interesting comment from senator tim johnson, your colleague, a democrat. sometimes all the market takes is to make them see the light. that is via politico. if you don't get a deal and the markets are closed tomorrow, and you open to a couple of really big down days, is that all it takes to strike a deal? >> i hope not. hopefully congress has learned what failure to strike a deal can mean to the american economy. >> is that thought still fresh? >> it's fresh in our mind. i remember the deal we had to pass on t.a.r.p. to help our financial markets. i don't want to revisit that again. >> we've heard all kinds of stuff this morning. as you noi, senator, you probably hear this from your constituents, they're so disinterested in the process, they're so disinterested in the sausage being made. what they want to know if that there are like minded, good, smart people in that congress we're looking at right now who all have phones and blackberrys and actually work in the same building. is there enough good will to ensure that a
, that if the u.s. were to really go over the u.s. fiscal cliff that the economy would go back into recession, unemployment would go from 7% to over 9%. that thousands of people would lose their jobs? >> no, wolf. i don't think there would be a permanent situation where we went over the fiscal cliff and nothing was done. my point is that if we went over the fiscal cliff and tax rates went up and spending cuts were substantial, that republicans would be under a huge pressure, even greater pressure than they are now to agree to a democratic initiative to cut middle class taxes and also restore the spending cuts that really do need to be restored. especially for the middle class and the poor. under the present circumstances, we to some extent have the worst of both worlds. the president loses the bargaining advantage of having that fiscal cliff and also having the public behind him. and has given in to republican demands of moving that threshold from $250,000 over $450,000. >> we've got to leave it there. grover norquist and robert reich, thanks to both of you. i know you'll be joining us later
.s. stock market. despite all those worries about the fiscal cliff and maybe slower growth in the u.s. economy, the stock market has had a great year. too bad you missed out. smart money's been on the market. the rest of us have been worried about the fiscal cliff. >> number eight, facebook's ipo. hundreds of millions of people like facebook, but investors did not on its first day as a public company. trading glitches at the nasdaq and questions about the company's ability to make money on mobile users pummeled the stock, which has yet to climb its way back to its ipo price. >> number seven, mother meyer. the new ceo of yahoo! who announced she was just going to take a two-week maternity leave as she tried to turn this company around. 37 years old, it looks like a mother's touch is what yahoo! needed. >> mother nature. an intense drought in the midwest that scorched the corn and soy crop, sending prices sky high. >> who can forget super storm sandy? neighborhoods along the northeast swept away, millions without power and damages as high as 50 billion dollars raising lots of question
the fiscal cliff. think of it as, well this way, our economy is in a car headed toward that cliff and there's a lot of stake, including massive spending cuts and social programs and defense, expiration you the bush era tax cut, increases in other taxes on families like the alternative minimum tax and the expiration of the payroll tax holiday, there's this to think of, for 2 million unemployed worker, the loss of unemployment benefits. we have asked experts to join us for a fiscal cliff roundtable discussion, if you will. ron brownstein is a senior -- cnn senior political analyst and editorial director of the national journal and stephen moore, senior economics writer at the "wall street journal" and is in washington, d.c. first up, ron, will, do you think, these politicians reach a deal or not and why or why not? >> the fiscal cliff was yeelted as a doomsday machine to try to give them more will power to do what they can't do on their own, to reach a deal. the reason all of this was here, incentive to reach a deal, some of your guests pointed out during the day, a lot can go wrong when you
seen on tv. as we head to a break, the u.s. economy held hostage. the fiscal cliff stakes in the words of a corporate competitive. >>> my name is richard phillips. i'm the ceo of pilot freight services. we move the nation's most critical freight all over the world and employee 2,500 people. if the nation fails us and we go over the fiscal cliff, we will feel the impact immediately. capital goods will slow down and we will feel it everyday. we will buckle down and move to strategic advantage. we electude lead, not to follow the hard left and not to follow the hard right. govern from the middle and lead. little word game. i think your friends will understand. oh no, it's actually my geico app...see? ...i just uh paid my bill. did you really? from the plane? yeah, i can manage my policy, get roadside assistance, pretty much access geico 24/7. sounds a little too good to be true sir. i'll believe that when pigs fly. ok, did she seriously just say that? geico. just click away with our free mobile app. you can stay in and like something... or you can get out there and actually like something
the fiscal cliff. it will be an interesting few days as congress starts to reconvene. and also as corporate america is taking up this fight as well. ceo howard schulze of starbucks urging workers at 120 washington area stores to start writing on their coffee cups, come together. >> are you serious? >> yes. yes. >> that should help. i think that's going to do it. >> problem solved. >> between that, and the pins. >> i never thought of that. >> can you imagine -- oh, good idea, howard schulze. but he says we deserve better. >> we probably do. >> he's right. >> a lot of them are still on vacation. house members have been told there's nothing scheduled for this week. but you could be called back with 48 hours' notice. so, in a perfect world, things could possibly come together. >> 48 hours' notice and we have five days to go. >> i'm not saying we're not cutting it awfully close, but that's where things stand as of right now. >> new new housing data out tod home prices rose 4.3% in the 12 months ending in october in a 20-city composite, beating analysts' forecasts. it did appear as 12 of the 20 c
that the worst is going to hit the u.s. economy. >> most lawmakers are now trying to avoid the fiscal cliff. 14i7ers meanwhile are trying to vied a strike at more than a dozen ports. we're talking about 14,000 longshoremen would walk off their job when the contract expires on december 0th. sunday, i think, isn't it? the biggest issue is on container royalties which are paid to union workers. they get part of it based on the weight of the cargo. a strike could hurt exports, factories, also it would affect retailers who are awaiting shipments of spring merchandise. now it's important. we're going to go to today's national weather forecast. last year, reynolds, you would come on, you would try and make it interesting. but it wasn't. this year, it's every day we need to, you know, dvr you because there's a lot going on. >> oh, that's certainly the case. it's been really like an assembly line. one storm system after another rolling across the continent that has been affecting millions of americans. what we're seeing is that last storm that we call euclid now leaving the u.s. and bringing residual snow
. but what about the economy? bank rate says one in three consumers tell it the fiscal cliff is making them hold back on spending and budgets are on everyone's mind. >> definitely shopping on a budget because i just wrote a book and i had to spend a lot of money to get the book printed so i have to be very careful. >> we're always on a budget but we always exceed it. >> my budget this year is lower than last year but it's going okay. i am still able to get people little gifts here and there. >> we're spending a lot of money this year. we're buying everybody gifts this year. just because, i guess, it's almost the end of the world. >> well, it's not the end of the world. she still has to pay her credit card bills. costco and nordstrom, he said this weekend it looks like it was a little tepid and it is very tough to gauge how online sales have been. >> everybody is up extremely strongly online but at the same time i think a lot of the retailers gave such good discounts and for so long so early that i think they pulled some selling out of the back end of the season. nounchts, yesterday was the
if benefits are not restored. marc, this is a real life consequences. yes, it is a fiscal curve, and yes, tax rates are only going to go up a little bit, but for some people, it is a cliff. >> most americans have not benefitted from this economy at all. people are struggling and most people i know are kind of, can i make the mortgage? can i keep my job? this is real for people, and the problem is that one of the things that i have discovered talking to conservative e k economists or progressive left wing economists or whoever i'm talking to say that we are all not asking the right questions and not having an honest debate. the honest debate is that conservative people on the right want less government and destroy government to take what people get out of it. a way to end it. so we are not, and the left is not talking anymore about what the real issues are are, and we talked about in the break about social security, and they are going to gut social skuecurity. i'm okay. i'm old [ laughter ] but y'all are going to be in trouble when it comes to social security and your generations will be in tr
in recession regardless of the fiscal cliff. >> to be fair, i'm told there are a number of republicans, especially in the house, who want to go over the cliff for the reason i explained, that they'd much rather vote for a tax cut than a tax increase because they don't want to break your pledge. grover, thank you very much. appreciate it. >> no one should break their pledge. >> merry christmas. thank you, grover. >> merry christmas to you. >> ahead on "starting point," who would do this right before christmas? real grinches break into one family's home, turning over their tree, stealing their electronics. what are they going to do about it? we'll talk to them live next. i . because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at ci
and will continue this morning. as washington teeters on the edge of the fiscal cliff, there is still no deal. as talks continued overnight, a voice of frustration erupted on the senate floor. >> something has gone terribly wrong when the biggest threat to our american economy is our american congress. >> reporter: the republican and democratic senate leaders negotiated all weekend long. the talks hit a brick wall. harry reid saying he was unable to even counter the latest republican offer. >> at this stage, we're not able to make a counteroffer. it appears that there are things that stop us from moving forward. >> reporter: that prompted mitch mcconnell to call for a lifeline. >> i also placed a call to the vice president to see if he could help jump-start the negotiations on his side. i want everyone to know i'm willing to get this done. but i need a dance partner. >> reporter: and with that, vice president biden has now emerged as a key player, playing a direct role in the effort to strike a last-minute deal. the key sticking points remain the same. the white house wants taxes to go up on
the fiscal cliff. who will compromise and will a deal get done to save the u.s.'s economy? stay tuned to see who will rise above? >>> the dow is currently down 75 although we know president is going to land in an hour or so. who knows what the situation will look like by the time "fast money" comes around. >> we do know we will have the chairman of lion's gate. up 88% and give us a preview of the pipeline for 2013 and see if the stock can keep going. with the markets closed we will have a technical analyst on the market. looks like he is seeing a worse year for 2013. >> and then talk to italian conference members. >> absolutely. >> see you tonight. meantime, if you're just joining us, here's what you missed earlier on. >> welcome to hour three of "squawk on the street." here's what's happening so far. >> we're going to raise taxes and we're going to cut spending. both of those things will have something of a debilitating effect of the growth of gdp this coming year. >> we hear a lot of press release politics coming from elected officials, who wants to go over the cliff and who doesn't. it's
in your life. >> number one is the fiscal cliff. lawmakers saw it coming and didn't bother to pay any attention to it until after the election. had they put politics aside and dealt with it earlier, who knows how strong the u.s. economy would be right now. >> and make sure you join me for the biggest stories of the year in crime, politic, money and the most scandalous stories. the top ten of 2012, 8:00 eastern. a teen battling a terminal illness uses lyrics instead of letters to say goodbyes. >> it's kind of me always being there for him. like if they keep singing that song throughout their life, it will be worth it. >> this teen's final wish, next. s that will make it drop over, and over again. ♪ from jammin' jerk chicken, to creamy gouda bisque. see what's new from campbell's. it's amazing what soup can do. with less chronic osteoarthritis pain. imagine living your life with less chronic low back pain. imagine you, with less pain. cymbalta can help. cymbalta is fda-approved to manage chronic musculoskeletal pain. one non-narcotic pill a day, every day, can help reduce this pain. t
Search Results 0 to 19 of about 20